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(ICIS) -- Asia’s benzene exports to the US
will likely be low in December, as in the previous two months, given a lack of
price incentive to ship out products that far, industry sources said on
Friday.
Benzene shipments from South Korea to the US in December are
estimated to remain below 20,000 tonnes, a Korean producer said. South Korea is
the largest exporter of benzene from Asia to the US, which is the world’s
largest benzene importing nation.
US benzene prices were at $3.10-3.20/gal or $927-957/tonne
(?686-708/tonne) FOB (free on board) Barges late on Thursday, while European
values were at $890-910/tonne CIF (cost, insurance and freight) ARA (Antwerp,
Rotterdam and Amsterdam). On Friday morning, Asian spot prices were hovering at
about $970-980/tonne FOB (free on board) Korea, according to
ICIS.
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South Korea traditionally ships out 40,000-50,000 tonnes of benzene to
the US. But in November, the Asian country only exported about a third of the
usual volume to the US, said a Singapore-based trader.
Demand from western industrialized economies has been falling as the US’
economic state remains fragile, while the eurozone is steeped in its sovereign
debt crisis.
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A pick-up in US’ benzene demand depends largely on China’s appetite for
styrene monomer (SM) imports from the US, the same Korean producer said. SM is
the major downstream of benzene.
Asia is a net exporter of benzene to the US
and Europe, while Asia imports SM from the US and Middle East.
mrcplast.com
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